Foreign investors owned _______% of the publicly held national debt in 1970.
Fill in the blank(s) with the appropriate word(s).
Answer: 5
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Monetarists differ from Classical economists in that they argue that
A) changes in the money supply affect only the price level in the long run. B) velocity is not fixed but is predictable. C) the economy tends to be stable around full employment. D) the demand for money is a fixed fraction of nominal GDP.
In order to increase the money supply, the banking system must have
a. required reserves. b. the authority to buy corporate stocks. c. the authority to print U.S. currency. d. excess reserves. e. the authority to engage in interstate banking.
The short run is the time period
A. In which only the amount of capital may be altered. B. Over which an investment decision can be made. C. In which some costs are fixed. D. Necessary so that profits can be earned from production.
According to ________ models, the level of employment is determined primarily by prices and wages.
A. command system B. Marxist C. Classical D. Keynesian